WA electricity draft rules - Washington's Department of Ecology (ECY) published on Monday draft updates on imported electricity and centralised electricity markets (CEMs) under its cap-and-invest programme. Draft updates in the language include: specifying that new power rules for electric power entities (EPEs) start for 2027 emissions; adding new provision enabling specified imports reported from "aggregated zero-emissions generation sources"; imposing new reporting requirements for "market purchasers", or a electrical distribution utility that directly or indirectly purchases any electricity through a CEM to serve Washington load in the data year; and expanding and clarifying the definition of a "electricity importer" to, for example, identify importers for bulk unspecified imports from a CEM. The ECY will hold a public workshop on May 5 to discuss the draft, while written feedback on the proposal will be accepted from May 5-20.

Solar and wind met almost all electricity demand growth last year, while fossil generation stayed flat, according to the latest report by an energy think tank.

RGGI Allowance (RGA) futures reached record highs above the $30 mark on Monday as some traders pointed to tightness of supply and demand as the factor driving prices to historic levels recently.

Big sky imminent – US Energy Corp., an energy and carbon management firm, has secured fresh financing to advance a carbon hub, it announced on Monday. The company said it closed a $20 mln senior secured debt facility alongside earlier equity proceeds to complete the Phase 1 capital stack for its Montana-based Big Sky Carbon Hub project, while suspending its equity line of credit. The funding is expected to support construction with initial helium sales and carbon management operations targeted for Q1 2027, with no financial covenant testing until Mar. 2027 and maturity in 2029.

Planting profits – BCarbon, a US-based non-profit carbon credit registry, has issued more than 80,000 carbon removal credits from Texas-based Carbon Rho’s Red River pilot project, covering 2023-25 vintages, it was announced on LinkedIn last week. The afforestation project is designed to scale across the states of Arkansas, Louisiana, Oklahoma, and Texas. Spanning more than 15,000 acres (6,070 ha), the project aims to connect forested areas into conservation corridors along the Red River, with carbon credit revenues supporting conservation practices and other ecological benefits, backers said.

Sable saga - A California judge ruled on Friday that the Trump administration's order for Sable Offshore to restart oil operations at the previously-shuttered Santa Ynez complex does not undo previous operational limits placed on the facility by the judge, E&E News reported. Santa Barbara Superior Court Judge Donna Geck's ruling is a win for environmental groups and the state of California, which has challenged the order by the US DOE. Sable Offshore has already resumed oil transportation across key segments of the Santa Ynez Pipeline System and is ramping production across its California offshore assets, reported World Oil. Currently, 40 wells across Platform Harmony and Platform Heritage are producing an average of about 750 barrels per day (bpd) per well, with 74 wells expected to be activated and average output expected to be around 700 bpd, according to the outlet. Sable also expects Platform Hondo to begin production in June 2026, with estimated peak output of approximately 10,000 bpd.

Burning wood for carbon capture projects is unlikely to deliver net carbon removals for up to 150 years, with emissions in one modelled scenario remaining more than double those of natural gas with CCS over that period, new research found.

A new carbon finance company launched on Monday said it secured over $50 million to expand a Kenya-based agroforestry carbon project, pitching early-stage funding as a way to unlock stalled projects and draw in institutional capital.

Blood from a stone - The Chapter 7 trustee for bankrupt California-based carbon offset company, CTN Holdings, formerly Aspiration Partners, has asked a Delaware court to block investors from claiming co-founder Joseph Sanberg and others defrauded them, according to Law360. In a November suit, investors alleged Sanberg made claims that Aspiration was financially successful, but those declarations were false. Sanberg pleaded guilty to two counts of wire fraud in October. The trustee said Aspiration's insurance policies only have $800,000 remaining, and that sum should be protected so all creditors can share it.

Spot credits for Phase 1 of CORSIA traded around $14 this week, while the ending of Indonesia's moratorium on selling voluntary carbon units internationally looks set to unleash a flood of fresh REDD issuances onto the market. 

Bench vs benefits - Leaked internal memos show conservative justices on the US Supreme Court focused on industry costs when they moved in 2016 to block the Obama-era Clean Power Plan, with Chief Justice John Roberts calling it “the most expensive regulation ever imposed” and warning of “irreparable” harm to energy companies, while making no reference to the costs of climate change or the rule’s projected benefits, E&E News reported. The documents, reported by The New York Times, indicate the court weighed compliance costs and potential coal production declines heavily in granting an unprecedented stay before lower court review, despite US EPA estimates that climate and public health benefits would outweigh costs. Legal experts cited in the report said the memos suggest some justices had effectively formed views on the merits early and relied on limited briefing, raising concerns about the court’s decision-making process and its increasing use of emergency orders.

The US Supreme Court (SCOTUS) on Friday handed oil companies a boost in their fight with Louisiana officials over coastal damage costs, siding with Chevron in a case that could shape similar claims against other oil and gas players, including Exxon Mobil.

Limits to Colombia’s national carbon project registry (RENARE) are stunting progress toward launching the national ETS (Spanish: PNCTE), inhibiting voluntary market (VCM) regulation, and necessitating Article 6 workarounds, speakers said at the Colombia Carbon Forum last week.

The cost of meeting demand for CORSIA-Eligible Emissions Units (EEUs) in 2025, at current market prices and based on expected sectoral growth figures, could near $2 billion, according to industry data presented at the Colombia Carbon Forum last week.

Countries around the world are back to negotiating a carbon price for international shipping, with hoping to reach final adoption later this year – but they will have to contend with intense pressure to break the current framework apart.

Solar accord – Renewable energy firm Neoen and Matachewan First Nation have been awarded a 20-year contract for a 50 MW solar project in Ontario by the province’s grid operator, it was announced on Monday. The 65 MWp facility in northeastern Ontario will be co-owned equally by the partners and is expected to generate around 100,000 MWh of emissions-free electricity each year. Construction is due to begin in 2028 with commissioning targeted for 2029, marking Matachewan’s first utility-scale renewable project. Neoen was also awarded a second solar contract under the same procurement with Garden River First Nation, bringing its total secured capacity to 718 MW in Ontario and 968 MW across Canada.

Three US-based corporations have committed to act on deforestation linked to their avocado supply chains following shareholder filings on the topic, a report has said.

The market for nature-based carbon removals will withstand Microsoft’s possible pause in carbon removal (CDR) activity, with investor appetite and a broader base of corporate buyers looking to support the sector, according to an expert.

The renewables boom slowed global growth in energy-related CO2 emissions to a tiny fraction last year, according to the International Energy Agency (IEA).